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measurements? can we compare national figures over time to determine if our economy is making progress? u.s. economic growth-- what is the gross national product? with economic analyst richard gill, we'll explore that question on this edition of economics usa. i'm david schoumacher. these computer tapes at the bureau of economic analysis in washington document 50 years of america's economic growth. they provide access to the accounting system known as gnp. when the united states faced its worst economic crisis, the great depression, no such measuring tool existed, until this report went to the senate. copies of national income, 1929-1932 are scarce today, but back in 1934, it was very popular. 4,500 copies were sold in 8 months. the report was made by a team from the department of commerce when congress demanded more information. what was the great depression costing the american economy? led in part by the auto industry, the economy grew rapidly in the 1920s, generating more jobs, more income, and more free time. as long as the factories were humming, there was little concern about how w
were without jobs. the agricultural economy, a refuge in earlier depressions, suffered during the 1920s then collapsed in the 1930s. nothing seemed to halt the downward spiral. how did people respond? eric sevareid remembers the anguish of his father's generation. i think the instinct of that generation was to blame themselves. somehow they had not listened to god's word closely enough or hadn't been smart about how they handled the land or loans or something. only later did they begin to blame the government or the system. people have to have scapegoats. they can't feel personally responsible forever. and it was such a vast thing anyway, something fundamentally broken down. we were plowing under food, killing little pigs, and people were going hungry. millions of sick people and doctors going broke. what was going on? what was the sense to this-- this rich country? politicians of 1932 were prisoners of the economic theories of the day that held the economy would improve. that's the message president hoover kept delivering. in cambridge, england, john maynard keynes was telling students
out with new projections this week. they saw, long term, the economy will move in the opposite direction of the deficit. the economy grows if the deficit goes down, it shrinks if the deficit goes up. you argue in the book that the deficit really doesn't matter right now. do you disagree with the government's projections? >> no, i think the cbo report is pretty reasonable. and it says that we wish we had lower debt, and if we look at the long term it would be nice to pay down the debt but it does not show a crisis. and trying to slash the deficit right now will deepen the clear and present danger which is a very high unemployment and ongoing economic slump. so i actually -- i found the cbo report supportive of what i'm saying, that right now our priorities should be jobs and not the deficit. >> i want to get your reaction to something that dave camp told us, the chairman of the house ways and means committee. he said that we need an equitable approach to cutting and spending. take a listen. i want to be get your reaction to it. >> sure. >> what we really need now is the second p
that show long term the economy will move in the opposite direction of the deficit. the economy grows if the deficit goes down. shrinks if the deficit goes up. you argue the deficit doesn't matter now. do you disagree with the government projections? >> the cbo report is reasonable. it says that we wish we had lower debt. if we look at the long-term it would be nice to pay down the debt but it doesn't show a crisis. trying to slash the deficit now will deepen the clear and a present danger which is high unemployment and on going economic slump. i thought -- i found the cbo report supportive of what i'm saying. our priorities should be jobs, not the deficit. >> i want your reaction to something dave camp told us, chairman of the house ways & means committee. he said we need an equitable approach to cutting and spending. i want your reaction to it. >> sure. >> what we need now is the ekd part of the balanced approach the president called for in december. the beginning of reigning in debt and deficits. on the president's commission, they said when the debt gets to this level of the econo
of commons in his weekly question time session which topics included state of the economy, housing benefits for veterans and a proposed tax increase on beer and alcohol. this is 35 minutes. >> order. questions to the prime minister. alison seabeck. >> thank you, mr. speaker. this morning i had meetings with mine tieral colleagues and others and in addition to my duties in the house i will have other meetings today. >> alison sea beck. >> i'm hear to speak, it right a mother in his constituency should not speak of the bedroom tax and confirm why her minister be able to offer her son, serving in the magesty's armed forces either a home or a bedroom on his return from duty? >> the reforms to housing benefit that we're putting in place, i'll very happily look at the case, as the honorable lady says. but the reforms that are put in place have a very clear principle of the heart. there are many people in private rented accommodation who do not have housing benefits and can't afford extra bedrooms and we have to get control of housing benefits. we're now spending as a country $23 billion pounds on
are worried about the state of u.s. economy, economists predicting just a 2% growth this year, which is not much, many hope much of the president's speech focuses on the u.s. economy, neil cavuto will cover the speech all night tuesday night right here on fox business. but first, to tucker carlson, monica metta and a guy who will cover it with neil tuesday is peter. >> the white house said that president's inaugural address laided up on some big themes that president wants to talk about and advance in his second term, that we need to wait for state of the union for him to get into some detail on what he wants to do. so, we are expecting that he will offer more details but, i would not expect any change in broad themes. liz: what we're expecting is gun violence, immigration reform, and tax reform, and energy? what is missing? >> climate change,e'll talk about that too. these are the issues that the president cares about. liz: what is missing? >> growth. the president's main concern is income inequality, he does not read the w "wall street journal" he is focused on leveling the play ar
for the white smoke to rebuild the succession. with the economy at the forefront, what should we be listening for? we asked one of the top leaders. welcome to our viewers on public television in america and around the globe. joseph is 85 years old and his health is failing. in any other profession, at his resignation would come at no surprise at all. it's as the leader of the catholic church, it is no surprise at all. pope benedict xvi announced that he will resign at the end of february. he is the first pope to do so in 600 years. >> it was during a routine meeting with vatican card bills that pope benedict did something that no pontiff had done in nearly 600 years. he announced his resignation and stunned his audience. he said that i have come to the certainty that my strengths, in due to an advanced age, are no longer suited to an adequate execution of saint peter's ministry. pope benedict said the strength of mind and body are necessary. strength in that in the last few months had deteriorated to the point where he doubted he could carry out his duties. only yesterday pope had spoken to s
and career change, fidelity is there for your personal economy, helping you readjust your retirement plan along the way. rethink how you are invested and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices. call today or make it easy to move that 401k to a fidelity ira. >> a relationship managers work hard to know your assistance. offering specialized solutions and capital to meet your growth objectives. we offer expertise entail solutions for small businesses and major corporations. what can we do for you? >> now, "bbc world news america ." >> this is "bbc world news america." it has not happened since the middle ages, 85 years old and frail, pope benedict announces that he will resign at the end of this month. >> you are joking. the pope? oh, my god. >> who will lead the catholic church next and what continent will he come from? we wait for the white smoke to rebuild the succession. with the economy at the forefront, what should we be listening for? we asked one of the top leaders. welcome to our viewers on public televisio
's plan a is not only working with the economy is beginning to turn the corner? >> i'm grateful to my honorable friend. i think we should listen very carefully to what the governor of the bank of england said. we have said of course that growth is slower than we would like, but the economy is moving in the right direction. the rebalancing is taking place. the things that need to be fixed in our economy in terms of bank lending and housing supply, these things are being fixed. that's what this government is determined to do. >> one of my constituents has learned that when the bedroom tax is introduced she will have 24 pounds a week to live on. she is so anxious about how she's going to manage. she is having cognitive behavior therapy. but her anxiety is totally understandable. does the prime minister agree with me that those who should be receiving the cognitive behavior therapy are the ones, namely his ministers, who think she could live on 24 pounds? >> i think the party opposite does have to address the fact that for 13 years in government they were perfectly content to have a housi
. cbo just released its outlook for the federal budget and the economy over the next decade. i would like to tell you a little about it, and then my colleagues and i will be happy to take your questions. our analysis shows that the united states continues to face very large economic and budget challenges. under current law, we expect the unemployment rate will remain above 7.5% through next year. that would make 2014 the sixth year in a row that unemployment is so high, the longest such period in seven years. -- 70 years. also under current law, we expect budget deficits over the next decade to total about $7 trillion. with deficits so high, the federal debt on the public will remain a larger percentage of gdp than in any year between 1951 to 2012. by the end of the decade, debt would be 77% of gdp, on an upward path. let me elaborate on those points, beginning with the economy and then turning to the budget. we anticipate that economic growth will remain slow this year because the gradual improvement that we see in the underlying economic factors will be offset by a tightening of fe
and more money will go to the private economy. i am saying that you can argue it both ways. >> when you have concrete examples in europe where you have substantial cuts and public expenditure and the economy has completed more to the ground. if the private sector wants to save, you have to accommodate out by allawi government to spend a little bit more. connell: it was good to have you in studio. dagen: you were in the middle there somewhere. marshall, thank you very much. connell: the value of u.s. stocks up by $12 trillion since 2009. those numbers are from the federal reserve. our next guest says there is still room in the stock market. our next guest is bryan was worried. >> marshall is the keynesian. i do not believe there is any evidence to prove that he is right that government spending helps the economy. prosperity of europe, it is in the post. in the last five years, you have had substantial guts and government expenditure. >> marshall, there is no government in europe that have cut spending in the last five years. zero. nada. over the last 40 years, france has had an 8.1 unemp
session which topics included state of the economy, housing benefits for veterans and a proposed tax increase on beer and alcohol. this is 35 minutes. dispersed so they can go to the projects so desperately needed. >> order. questions to the prime minister. >> number one, mr. speaker. >> thank you, mr. speaker. mr. speaker, this morning i had meetings with ministerial colleagues and others, and in addition to my duties in the cells i shall have further such meetings later today. >> thank you, mr. speaker. is it right that a mother and my contingency may not -- confirmed by his minister, her son serving in her majesty's armed forces -- [inaudible] >> the reforms to housing benefit that we're putting in place, and i'm happy to look at the case of the honorable lady says -- [shouting] >> but they have a very clear principle out of their hard. there are many people who don't have housing benefit, who cannot afford extra bedrooms, and we have to get control of housing benefits. we are now spending as the country 23 billion pounds on housing benefits and we have to get that budget under co
, and investors are seeing in the u.s. economy. we preview the economic state of the union. why regulators need to treat them like other business. then u.s. airways sees big benefits in merging with american airlines. we look at the new landscape for airlines if the deal goes through. we have that anmore tonight on nbr. president obama is preparing to deliver his first state of the union address of his new term, tomorrow. the american people will be listening carefully to his plans to grow the economy, especially as they struggle with less take home pay, and worries about their jobs. while there are signs of improvement in the economy, the unemployment rate rose in january to 7.9%. so what is the current state of the economy? erika miller talked to two experts with different views. >> reporter: it may seem strange to many investors that the stock market can be hovering at five- year highs, when the economy is so weak. but what's fueling the rally is not the current situation, it's hope. >> we've taken out some of the downside tail risks. so, we're feeling like although it's not going to be a bo
. and the result could be a huge blow to middle class families and our economy as a whole. if it goes forward thousands of workers are likely to be laid off, firefighters and food specttors could find themselves out of work leaving ourselves vulnerable. programs like head started would be cut and research into cancer andals himers could be scaled back. small businesses could be prevented from getting the resources they need to keep their doors open. people on disability could wait longer on their benefits. all economic progress could be put at risk. then there is the impact on our military readiness. already they have delayed an aircraft carrier that was supposed to deplay to the gulf. changes like this effect our ability to respond threats in an unstable part of the world. and we'll be forced to make more tough decisions in the week ahead if congress files act. the good news is there is another option. two months ago we faced a similar deadline and instead of making deep cuts that would have cost jobs and slowed down our recovery, democrats and republicans came together and made responsible
.s. economy. martin regalia, chambers chief economist will talk about recent gross domestic product figure and what policy the obama administration and congress to propose to help stimulate the economy. this is just getting under way. >> a prime example of our ability to involve experts and debates on topics that are critical to the business community. i'm going to start us off today by queuing a video from christopher giancarlo of the gfi group, our sponsor, for this series. but for some want to make a brief announcement. this series, this economic series that we pose every quarter, has been accredited by the national association of state boards of accountancy to provide continuing professional education, credits for accounting professional. so we are quite excited of that and hopefully you will as well. this accreditation highlights the value of this and other programs that would hold her at the chamber. for more information on that please visit our website, or speak to some of folks outside in the registration desk. after the video i'm going to ask marty to come up directly and begin th
're wrong. >> and that's dragging down our economy. >> america is going broke on health care even more than social security for us the best plan is going to be the cheaper plan even if it has a longer weight time. it won't bankrupt the country. we have doing nothing, absolutely nothing for health care reform. we have a pencil ledger system in a computer world. all we did was add 30 to 50 more people to insurance rolls. this is an economic argument. is it cheaper to give people insurance or cheaper to pay higher health care costs because they go to the emergency room they can't afford and we pay higher health care costs, but the problem is, we did nothing for health care reform. all this is going to do is exacerbate the-- >> all right, guys, okay, i'm sorry, guys, that's got to be the last word. thanks so much, good debate. baltimore might be the title town, but the city's tax and spending problems could bring it down. now the cavuto team say some in washington are taking a page out of baltimore's play book that could sack us all. that's at the bottom of the hour, but up here, first, those a
that the u.s. economy was starting to slow down again. from your perspective, how do you see the state of the american economy? >> it is still uncertain. we really need to get the economy growing. the only way to get jobs is to add and grow the economy. the economy will not grow as long as government intrudes and tells us what to do. there is a lot of shore that we would like to bring back. the tax coming back on that money is way too high. >> we know that jobs and growth will be a big part of the state of the union address tomorrow night. the new ceo has been down at the white house talking to the president. >> he is going to really focus on growth of the economy. the only way to get jobs back into this economy, we are barely breaking even on jobs. we have got to create at least 100,000 jobs a year to keep up with the growth in the population. we are pushing very hard to push the visa waivers. we would love to have that for brazil. they would absolutely love to come to america. >> along side with that, would you like to have comprehensive immigration reform? >> i think that is very im
business investment. at think we are past the crisis point in the economy, but we now have to pick and focus on jobs and growth. >> my principal bull for focus, number one focus is going to be making sure that we are competitive, a growing and creating jobs, not just now, but well into the future. >> at a time when our economy is still recovering from the recession, our top priority has to be jobs and growth. lou: despite his repeated claims that job creation is his top priority, 20 trillion americans remain out of work, underemployed, or have given up on finding work. the unemployment rate that almost 8%. a tent of a percent higher than when president obama took office. meanwhile, president obama says his administration is already more than half wait toward its goal of deficit reduction with the president calling for more tax hikes to finish the job. it. >> over last few years democrats and republicans have come together and cut our deficit by more than two and a half trillion dollars to a balanced mix of spending cuts and higher tax rates for the wealthiest americans. that's more
have a real job. selling bootleg dvds in the fleamarket or working in whatever underground economy. how do you craft this so we do not fall into the same trap? >> thank you for that question. it is good to see a fellow texan from south texas. first, i believe as a nation we are stronger because we ask folks to take an oath, and allegiance to the united states of america. >> no question about it. >> that requires full participant nation in the democracy of citizenship. i cannot imagine an america where we can sign -- consign these folks to an underclass status. >> what we put into law to not invite people to do the same thing again? that is my concern. >> first of all, the only way you will accomplish that is with a comprehensive approach. you do not want to find yourself. 10 are 20 years now. the legislation should include enhanced border security. enhanced interior security. >> would you support the idea -- the lin >> i would support technology that ensures that people who are here are here legally. whether it is that or something like that, there are more people more qualified to spea
are off 80, pushing us. let's go back to the economy. president obama and harry reid wants to tax the rich more. more revenue, they say. that means higher taxes. saying his policies will cause the economy to grow. this year. joining us from nashville. art laffer. what you say, if we raise taxes more this year, are we going to grow the economy stronger? >> we can do something, if we broaden the tax base dramatically and lower rates, we can really get the economy growing, but i don't think that is what he is talking about. he is just talking about rubbing the base. stuart: you take money away from a certain group of people and spread it around to the others. >> i don't think we need more taxes, stuart. and by the way, the point harry reid makes, which is correct as far as the senate goes, they were elected to the senate and obama was reelected, but so was the house numbers. the house numbers were elected on their policies as well, 235 republicans, they were not elected to increase spending and push higher tax rates is and they control the house. so using this political argument is a fault, i
programs. a lot of these visa programs, especially when the economy's doing really well and there's a lot of jobs available in the country, they fill up pretty quickly. visas for high-skill immigrants , the tech really wants that, wants more of those. you also have the h-2-b visas for foreign workers kind of for nonagricultural seasonal businesses. and you also have the h-2-a visa program which is mostly for agricultural workers. all these visa programs either have an arbitrary cap or are not being used that widely. basically that what businesses is want is they want to adjust these programs to the market so they can kind of rise and fall with demand. >> we thank you for your time today. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2013] >> if you go to most american hivetry textbooks i would also make you a bet, if you go back to the textbooks you had in high high school, you can take me up on my bet, but my bet with you is that in your american history textbooks in high school, if you go to the index, you will find no mention
to al jazeera. asking for a fair day's pay indonesia oppose the economy booms. people are demanding an increase in the minimum wage. the french minister calls the conflict in mali a real war. there's a new effort to save the ancient roman city of pompeii . a tunisian opposition leader has died after being shot outside his home in the capital tunis. shokri belaid led the unified democratic nationalist party and had been a strong critic of tunisia's government. witnesses say that he died in a clinic after being attacked when he left home. this shows the place reportedly where he was shot. his family and the prime minister have called it an assassination. the leader of the party which dominates the government says it undermines the ability of tunisia. >> this is a heinous political climate seemed to undermine the stability of the country. targeting our transition to democracy and any development projects currently planned by the government. we consider the perpetrators as enemies of the country, of democracy, and of islam. >> a member of the opposition blame the government for the kill
different. a once vibrant and growing state economy was brought low by the gross irresponsibility by those on wall street. as a result we have suffered 4 years of recession, with almost 300,000 people in washington looking for work. too many of our families are on the brink of losing their home. parents lie awake at night wondering how they can provide for their children's future. but we remain an optimistic state, a visionary state and an innovative state. time has not dimmed and the recession has not diminished our thirst for innovation and our talent for technological growth. we are the most creative, entrepreneurial group of business men and women, scientists, educators and workers on the planet. companies like silicon energy in marysville are leading the world with some of the most durable solar cells ever built. janicki industries in sedro- wooley is driving innovation in aerospace. valve, a software company in bellevue has grown into a worldwide leader in interactive entertainment. and in grays harbor an across- the-board effort led to the re- opening of the paper mill last year, pu
the economy, and but drug-traffickers out of business. but, it is a slippery slope. ron crumble from within. i agree with you. we also asked the question of gerriwillis.com. 453 to 45 percent said yes, 57 percent said no. more obamacare drama. the congressional budget office estimated the health care law will cost over a trillion dollars over the next ten years and is questioning readiness of the state insurance exchanges. never fear, cbo, the states are hiring navigators, tens of thousands of workers needed to help people register for the health insurance exchanges. according to the "washington post," state officials are facing a herculean task of finding these navigators. long-term cost will have to come from the exchanges, which will rely on fees from insurers. the money for fees will not be available until 2014, far after the navigator's will have to be working in in place. in the meantime, some workers may be funded by federal grants, private money domestic budgets, not good news for most states facing financial straits. california alone is planning to hire 21,000 of these exchange helper
, stimulate the economy but drug traffickers out of business. >> no no. a slippery slope. gerri: i agree. also on gerriwillis.com to. gerri: percent said no. obamacare drama, the cbo estimate in health care law will cost one point* $3 trillion over 10 years and is questioning readiness of the state insurance exchanges, never fear states are hiring navigators' helping people to register but according to the "washington post" state officials are facing a herculean task to find them that cost will come from the exchanges it and from the fees but those are not available until 2014. but in the meantime some could be funded by state budgets, a private money or grants not good news but california is planning to hire 21,000 and the tab will go into hundreds of millions , another unintended consequence of obamacare. none of them have been good. that is my $0.2 more.t he have a great night. we'll see you tomorrow. white h. the president today made his plea for help in deferring the onset of the sequestered for another few months. it sounds a lot more like an order for more of the same short term, small
a longer time because they do not want to harm the economy in the short term even as you try to reduce the deficit in the long term. also by closing some of the tax loopholes. we heard in the last presidential campaign from mitt romney and paul rand that there are all these tax breaks and loopholes that disproportionately benefit very wealthy people. speaker john boehner said he could come up with $800 billion through a tax reform plan. we're simply saying to the house republicans that we want to do with speaker john boehner said he could do. use some of their revenue from closing loopholes to close the deposit. you are right. republicans so far have said they're not willing to close one tax loophole, not for a corporate jet for big tax -- big oil companies for the purpose of reducing the deficit. when it is that trade-off, are they more interested in protecting the economy and defense spending? then i think he will begin to see a little bit of a change in attitude. >> what is there is not a change in attitude and calculations? this deadline is different than previous ones. we were fac
february 6th. and speaker john boehner has spoken. if america's economy collapses, then don't blame him. he did his part. he voted to cut meals on wheels. ♪ >> i don't like the sequester. i think it's taking a meat ax to our government. >> i believe they should at least pass a smaller package of spending cuts and tax reforms. >> i think the sequester's going to happen. >> washington desperately needs some adult leadership. >> talking like adults. let's get this country back on the mother [ bleep ] track. oh yeah! >> the president and the first lady are kind of like the mom and the dad of the country. >> there isn't any resistance to obama anywhere. >> at some point washington has to deal with its spending problem. >> and when your dad says something, you listen. and when you don't, it usually bites you in the [ bleep ] later on. >> i've had enough of it. it's time to act. ♪ >>> the clock is now ticking on what many economists say is a near-certain double dip recession if more than a trillion dollars in automatic spending and defense cuts are allowed to occur at the beginning of next mon
the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week. [ male announcer ] some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood
, they will cripple our ability to grow our economy and provide an environment where all americans have the opportunity to lead healthy, safe and productive lives. that is what really brings us together here today because sequestration is about more than numbers on a ledger. there are real people behind these numbers and their lives and livelihoods are on the line. these cuts have consequences and every american will pay the price. with fewer food inspectors we will be more susceptible to foodborne illness. we will be at greater risk of deadly disease outbreak as public health laboratories close. with fewer air traffic controllers flights will be curtailed. classroom size will increase as teachers are laid off. national parks will close up. we will be less safe with fewer police on the streets and we will wait longer to cure debilitating diseases like cancer and alzheimer's. today ndd united is sending two members of congress and the white house a 72 page letter signed by 3200 national, state and local organizations including those represented here today to stop the political brinksmans
the economy a $100 billion and the recovery efforts are still going on. so, it could delay some rebuilding activity... activity >> reporter: in new york city and elsewhere, preparations are being made for clean-up. >> we have more than 250,000 tons of salt on hand. >> reporter: according to the long island power authority, the storm has the potential to cause power outages for 100,000 customers on long island. and for the first time ever, lipa is deferring storm operations and response to its subcontractor, national grid. but in manhattan today, it was mostly business as usual, although many workers did try to leave early to beat the snow. and if the snowfall is anywhere close to the storm of '78, you'll see the impact in economic data in the weeks ahead. >> usually major storms cause increased volatility in economic data. so, that jobless claims jump significantly in the beginning as government offices close, because of the storm. and they surge back up after the offices reopened. >> reporter: if there's a silver lining in this storm, it's the timing. the heaviest snowfall will happen ov
. >> dagen, i've got to tell you, one way they think you can fix the economy, taxes, taxes, taxes, it's nuts. >> we got that cbo report this past week, 7 trillion dollar in additional deficit and factor in what that 600 billion dollars in tax hikes that the democrats did already push through and how does that balance things? but the point about baltimore is interesting because that's where this nation could possibly be headed. you continue to raise taxes and you don't cut spending and you wind up on the brink of bankruptcy, exactly where that city is. >> you know, ben, you say we're all eventually going to have to pay higher taxes, but as the only item in your play book how to fix your economy it doesn't seem like it's ever going to work. >> i keep thinking if taxes are so terrible, why don't we just have no taxes at all. why don't we pay for-- >> 100% taxes. >> why don't we have no taxes at all and why don't you not interrupt me for once? >> i can't help it. >> why don't we have no taxes at all and why don't we have some some balance in the budget. and for gosh sakes, we're grownup discipli
Search Results 0 to 49 of about 1,548 (some duplicates have been removed)